Since the South Dakota v. Wayfair ruling over six months ago, companies have been waiting to see how New York (the fourth most populated state) would handle the new rules for remote sellers. Tax advisors assumed New York was taking their time in creating the right formula, however, this may not have been the case.
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While CPAs have been enjoying their summer taking long vacations, states have been very busy at work asserting their positions regarding the impact of South Dakota v. Wayfair. Many professionals assumed that since the majority of state legislatures have adjourned for 2018 that we would not get significant guidance from states, but that has not
On August 2, Michigan released a Revenue Administrative Bulletin (RAB 2018-16) that addresses sales & use tax nexus standards for remote sellers. Most of the language is cookie cutter with other state releases such as creating a threshold of $100,000 in sales or 200 transactions. However, unlike many other states Michigan clearly addresses several key
Maryland is now the most recent state to issue a Tax Alert regarding South Dakota V Wayfair, and it’s the vaguest guidance issued to date by any state. Although Maryland did consider both affiliate and click-through nexus statutes in the past, before Wayfair, Maryland was a physical presence state. In the Tax Alert issued this
South Dakota v. Wayfair: Supreme Court Ruling on Collecting Sales Tax from Remote Sellers & Online Retailers
For the past three months, the Supreme Court has been listening to arguments regarding South Dakota v. Wayfair, Inc. On Thursday, June 21st, 2018 the Supreme court ruled in favor of South Dakota allowing states to collect sales tax from online retailers, effectively reversing a decision the Court made in 1992. In North Dakota v. Quill Corp., 504 U.S.
When you think about real estate tax issues, in general, sales tax concerns do not rise to the top. However, many states and cities have a complex set of sales tax rules that apply to the real estate industry and companies that are not complying could be drastically underpaying or overpaying sales tax. Keeping up
Recently New York has made it a priority to perform sales tax audits on many event planning businesses. Event planning is a broad term that can encompass multiple services ranging anywhere from providing guidance and consulting for an event, to planning and managing every detail of an event such as catering, set design and booking
Over the past few years, companies doing business in New York have noticed that the state has been much more aggressive and successful at finding companies with sales & use tax delinquencies. New York has been at the forefront of sales tax discussions dating back to 2008 when legislation was passed that started the “click-through
The New Jersey Technology Business Tax Certificate Transfer Program allows qualified companies to sell R&D tax credits and net operating losses. This is a competitive program with $60 million available annually. In Fiscal Year 2017, 40 companies were approved to share $35 million. The deadline to submit the online application is June 30, 2017. However, there are several
Work Opportunity Tax Credit (WOTC) The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers that hire individuals from certain target groups who have faced substantial barriers to employment or live in empowerment zones, which are economically distressed communities designated by the government for aid. On December 18, 2015 President Obama